AOK 0.00% 0.3¢ australian oil company limited.

Can someone please explain the following. Are we comparing...

  1. Dis
    3,741 Posts.
    Can someone please explain the following. Are we comparing apples and oranges?

    Today RFE announced their new reserve report:
    1P Reserves = 14 mmboe.
    NPV 10 = $196 million

    Comment by RFE: Group 1P net present value has increased to US$196.3 million (previously US$89.2 million), which is expected to underpin a significant increase in the Company’s borrowing base and provide funding flexibility.



    On March 19th 2013, AOK announce their latest reserve report:
    1P Reserves = 7.6 mmboe.
    PV10% Future Net revenues = $198 million


    Is the "NPV10" quoted by RFE the same as the "PV10% Future Net revenues" quoted by AOK?

    If so, on that basis AOK's reserves are worth about twice as much (on a BOE basis). Also if NPV is the basis for RBL facilities, then AOK should get a massive facility relative to is market capital! ???

    Quoting from RFE announcement July 1st (1p PV10 = US$144 million):
    "The Facility has been increased to US$100 million with
    the borrowing base increased to US$45 million. The
    increased borrowing base reflects a significant uplift in
    the present value of the Company’s proved reserves as
    at April 30, 2013."

 
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